Top 5 Weekly Trade Ideas #5 - META Broadening Wedge
Here's a broadening wedge on the 1hr. I have posted about the previous supply zone I expect to flip to demand starting around $544.45, also a previous ATH and there's a gap in the area. Ideally it would move down into demand and tap the lower trendline at the same time. I think anywhere in the $540 - $545 area would be a good spot to long with a stop below $540.
That would be ideal, but it might not play out that way if we gap up tomorrow or don't drop any this week. First upside target would be around $573 and then up to the upper trend line near ATH for the final target.
That would be ideal, but it might not play out that way if we gap up tomorrow or don't drop any this week. First upside target would be around $573 and then up to the upper trend line near ATH for the final target.
Trade active
Nice move above $573 for META, next stop is the trendline above or around $600 - ATH. If the trendline is broken, will look for longs on a retest.Trade closed: target reached
Massive move for META, ripped straight through the trendline. Good time to exit longs IMO, but will be looking for new longs if it dips to $600.
You reap what you sow.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
You reap what you sow.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.